Monday's signing comes as games organizers are struggling to find companies to join their domestic sponsorship program, a key source of revenue for the games. Earlier this year, South Korean President Park Geun-hye made an appeal to local businesses to sponsor the games.
Organizing committee chief Cho Yang-ho is quoted as saying in a statement that he's confident Samsung's sponsorship agreement will encourage other South Korean firms to join as sponsors for the games.
The statement says the committee has now signed six domestic sponsorship programs and achieved 41 percent of its sponsorship target.
The six companies include Korean Air, South Korea's largest airline. Cho is chairman of Korean Air.
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